NZ Q1 Retail Sales (excl-inflation), comes in at +1.5% q/q

  • expected +0.9%
  • prior +0.6%

In actual terms, the value of total retail sales in the March 2017 quarter was +6.7% y/y

More from Stats NZ:

9 of 15 industries had higher sales volumes in Q1. Largest increases in:

  • motor-vehicle and parts retailing +5.9%
  • food and beverage services +3.5%
  • electrical and electronic goods +5.3%

When the effect of price changes is included, the seasonally adjusted value of total retail sales +2.6% for the March 2017 quarter (+1.6 percent in the December 2016 quarter)

  • 11 of 15 retail industries had higher sales values in the latest quarter

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Earlier from NZ ... horrible services PMI: New Zealand Services PMI for April 52.8 (prior 58.8)

Still, the retails sales data has given the NZD a bit of a pop, not too much in it though